Ministries and other national bodies
Ministry of Economy and Finance
Finance Ministry Denies Sovereign Bond Reports
The Ministry of Economy and Finance (MEF) has denied media reports the government will issue dollar-denominated sovereign bonds using Bangkok-based Twin Pine Consulting as advisers to raise more money and reduce reliance on foreign loans. ...
May Kunmakara
http://www.khmertimeskh.com/news/23913/finance-ministry-denies-sovereign-bond-reports/
Korea Gives $13 mil for Flood Project
Korea will provide a $13.3 million concessional loan to renovate the Stung Siem Reap Phase II flood mitigation project after a deal signed yesterday between the Ministry of Economy and Finance and the Korea Export and Import Bank. ...
Sok Chan
http://www.khmertimeskh.com/news/23335/korea-gives--13-mil--for-flood-project/
Lack of transparency hinders budget progress
On Monday, Prime Minister Hun Sen announced a new phase of the Public Financial Management Reform Program, a donor-assisted initiative established in 2004 to bolster the country’s ability to soundly manage its budget. In a speech at the launch event, he touted the government’s progress ...
Tej Parikh and Kang Sothear
https://www.cambodiadaily.com/news/lack-of-transparency-hinders-budget-progress-110437/
Taxes on local alcohol and cigarettes increased
The government will increase the special tax on alcohol and cigarettes produced locally, with the implementation of the new tax to be effective from April 1, a move that has concerned producers. ...
Chea Vannak and Sum Manet
http://www.khmertimeskh.com/news/23126/taxes-on-local-alcohol-and-cigarettes-increased/
Head of police slams interior ministry in customs fiasco
The National Police have sent a proposal letter to Interior Minister Sar Kheng, asking him to stop customs officials from fining or confiscating vehicles with police license plates after five police vehicles were stopped and forced to pay an import tax last year, causing an ...
May Titthara
http://www.khmertimeskh.com/news/23069/head-of-police-slams-interior-ministry-in-customs-fiasco/
PM urges tighter rules on micro loans
Prime Minister Hun Sen told a summit on micro-finance development yesterday that stricter rules needed to be applied to organizations and institutions lending money as many people were being cheated, embezzled and losing their collateral to unscrupulous lenders. ...
Chea Vannak
http://www.khmertimeskh.com/news/22751/pm-urges-tighter-rules-on-micro-loans/
Shift to tech curbs corruption: PM
Prime Minister Hun Sen yesterday said the government is now paying almost all civil servants’ salaries and collecting taxes using technology, rather than relying on officials to handle cash, which reduces corruption. ...
May Kunmakara
http://www.khmertimeskh.com/news/22539/shift-to-tech-curbs-corruption--pm/
Ticket sales for Angkor Wat to go online
A new online ticketing system for the Kingdom’s biggest tourist draw, Angkor Wat, will be introduced to provide faster and convenient service to tourists, while increasing the transparency and clarity of ticket sales revenues. ...
Sor Chandara
http://www.phnompenhpost.com/business/ticket-sales-angkor-wat-go-online
Gov’t may hire wing to collect tax revenue
The government is considering appointing Wing (Cambodia) Limited, a specialised bank and mobile payment company, as a designated agent to collect tax revenues, the Ministry of Economy and Finance announced yesterday. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/govt-may-hire-wing-collect-tax-revenue
New border link expected to boost trade with Thailand
Cambodia and Thailand are set to have a new international border crossing on National Road 5, linking Banteay Meanchey province and Thailand’s Sa Kaeo province. ...
Chea Vannak
http://www.khmertimeskh.com/news/21667/new-border-link-expected-to-boost-trade-with-thailand/
MEF sounds warning bell over credit growth risk
The Ministry of Economy and Finance has raised concerns about the rapid growth of credit and real estate sectors, which it says could pose risks to Cambodia’s economic growth, while emphasising that policy measures were being taken to mitigate these risks. ...
Ananth Baliga
http://www.phnompenhpost.com/business/mef-sounds-warning-bell-over-credit-growth-risk
Cambodia is open for investment, PM tells America
Prime Minister Hun Sen yesterday made a direct appeal to businesses in the United States to increase investment in Cambodia, ahead of the US-ASEAN Summit in Sunnylands California, and just days after Deputy Prime Minister Sok An spoke with officials from the US Embassy here ...
Chea Vannak
http://www.khmertimeskh.com/news/21410/cambodia-is-open-for-investment--pm-tells-america/
Ministries announce lower licensing costs
Driver’s licence and vehicle inspection fees have been cut nearly in half, the Ministry of Economy and Finance and the Ministry of Public Works and Transportation announced late last week. ...
Lay Samean
http://www.phnompenhpost.com/national/ministries-announce-lower-licensing-costs
National assembly passes accounting and auditing law
The National Assembly on Thursday passed an accounting and auditing law that aims to bring financial reporting procedures for the government, NGOs and the private sector in line with international standards. ...
Kang Sothear
https://www.cambodiadaily.com/news/national-assembly-passes-accounting-and-auditing-law-105501/
Draft law to join china-led development bank passes national assembly
The draft law to join the China-led Asian Infrastructure Investment Bank passed the National Assembly yesterday with lawmakers from both the ruling and opposition party supporting it, saying it will open the door to a new source of funding for the development of the Kingdom’s ...
Government tax revenue collection grows nearly 22% in 2015
The government collected about $1.3 billion in tax revenue in 2015, a 21.67 percent increase over the previous year, according to a statement released by the Ministry of Economy and Finance’s general department of taxation on Monday. ...
Kang Sothear
https://www.cambodiadaily.com/news/government-tax-revenue-collection-grows-nearly-22-in-2015-105200/
Government takes over reins of Angkor ticket sales
The Cambodian government officially took charge of the ticket sales at the Angkor Archeological Park on January 1, after Prime Minster Hun Sen announced in November an end to the Sok Kong-owned Sokimex’s control of the service. ...
Sor Chandara
http://www.phnompenhpost.com/business/government-takes-over-reins-angkor-ticket-sales
Gov't extends 2 poverty alleviation projects
Two government-run emergency food assistance projects will be extended after evaluations found that they had significant impacts on reducing poverty in 200 communes in eight provinces, although the projects – which received financial support from developmental partners – have been completed, an official said yesterday. ...
Sum Manet
http://www.khmertimeskh.com/news/19098/gov-t-extends-2-poverty-alleviation-projects/
Minister confirms purchase of shares in China-led Development Bank
The government will spend $62.3 million to buy 623 shares of the China-led Asian Infrastructure Investment Bank (AIIB), paving the way for it to obtain funds from the bank for infrastructure development, Minister of Economy and Finance Aun Porn Moniroth confirmed during a meeting at ...
May Kunmakara
http://www.khmertimeskh.com/news/19054/minister-confirms-purchase-of-shares-in-china-led-development-bank/
Government undecided on new resettlement sites for evictees
A Finance Ministry official said on Sunday that the government had yet to decide whether it would comply with Asian Development Bank (ADB) rules that families facing eviction from along the country’s old railway tracks be offered resettlement options better than the ones they have ...
Zsombor Peter
https://www.cambodiadaily.com/news/government-undecided-on-new-resettlement-sites-for-evictees-102214/
National Bank of Cambodia for Kampot provincial branch inaugurated
A newly-constructed two-storey building of Kampot provincial branch of the National Bank of Cambodia inaugurated this morning to welcome clients. ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/national-bank-of-cambodia-for-kampot-provincial-branch-inaugurated-9083
New agreements to bolster intelligence, investment ties with Russia
Cambodia and Russia will sign a package of six agreements between the two countries, including on investment, and money laundering cooperation among political parties. ...
Cheang Sokha
http://www.khmertimeskh.com/news/17960/new-agreements-to-bolster-intelligence--investment-ties-with-russia/
Cambodia’s budget transparency dismal, survey finds
Cambodia fared dismally in the 2014 budget transparency index compiled by the US-based International Budget Partnership, scoring only eight out of 100 and coming in near the bottom of the 102 countries surveyed, at 94. ...
Pav Suy
http://www.khmertimeskh.com/news/17911/cambodia---s-budget-transparency-dismal--survey-finds/
Budget for a rising economy
Government spending on social welfare and economic development could both see double-digit growth next year, according to a document summarizing expenditures in next year’s budget that will be discussed at a Cabinet meeting chaired by Prime Minister Hun Sen today. ...
May Kunmakara
http://www.khmertimeskh.com/news/16970/budget-for-a-rising-economy/